DeFi’s current valuation reaches its highest level since August 2022
According to data from TradingView, the total value of all DeFi token projects is currently $57.75 billion, an increase of over 25% in the past month. The current valuation of DeFi is at its highest level since August 2022.
Pancakeswap Implements New Voting System for Governance Token Holders
Pancakeswap, the third-largest decentralized exchange in terms of total value locked, has introduced a new voting system called "Gauges." This system enables governance token holders to vote for additional rewards to be distributed to specific pools. The exchange has also replaced its vCAKE metric with a new metric called "veCAKE." To gain the ability to vote, CAKE holders must lock their tokens into a smart contract for a set period, and the longer they lock their tokens, the more voting power they receive. The exchange has eliminated its syrup pool reward system and will now only give additional fees to users who have veCAKE.
On-chain perpetual contract DEX Avantis launches public testnet
According to official sources, Avantis, a perpetual contract DEX on the blockchain, has announced the launch of its public test network. In September, DeFi derivative trading platform Avantis Labs completed a $4 million seed round of financing, led by Pantera Capital, with participation from Founders Fund, Coinbase's Base ecosystem fund, and Modular Capital. The new funds will be used to develop its flagship product, perpetual contract trading and market-making protocol Avantis. Avantis is being developed on the Optimism Superchain, a chain network built using the OP Stack and using USDC stablecoin as collateral for its protocol transactions.
Uniswap launches V4 template for developers
Uniswap has announced the launch of the V4 template for developers. The V4 template has innovative features that enable a seamless development journey. It aims to simplify the experience of developers building on the Uniswap contract, making it easier and more efficient. The template is deployed on the Goerli test network. All scripts are tailor-made for Goerli, but developers can also use local development options.
Aave community proposal recommends updating the GNO risk parameters of the Aave V3 Gnosis pool
According to the Governance Forum page, a new proposal suggests updating the GNO risk parameter of the Aave V3 Gnosis pool.
The 5PAhQi address is suspected to have received the most PYTH airdrops, about 5.06 million.
Data monitored by Lookonchain shows that the on-chain address "5PAhQi" seems to have received 5.06 million PYTH tokens (approximately $1.77 million) through multiple addresses, becoming the address that received the most airdrops.
Vega Protocol launches perpetual futures market
Blockchain project Vega Protocol, which focuses on trading, has launched a perpetual futures market today. The new product will be permissionless, meaning community members will propose and vote on which assets to create perpetual futures for. Vega Protocol is set to release its mainnet in March 2023. <br>
DeFi protocol Panoptic completes US$7 million in seed round financing, led by Greenfield Capital
On November 20th, DeFi protocol Panoptic based on Uniswap raised $7 million in seed funding to help develop its perpetual options decentralized trading platform. The funding round was led by European cryptocurrency investment company Greenfield Capital, with participation from HashKey, gumi Cryptos Capital (gCC), L1D, Heartcore Capital, Comma3, and Zee Prime Capital.<br>This funding will help Panoptic further develop the platform during the current beta testing phase before its release on the Ethereum mainnet and the release of its V2 product. (The Block)
BNB Chain: BNB Greenfield will be upgraded tomorrow at 07:00 UTC
BNB Chain announced on social media that it will upgrade BNB Greenfield at 7:00 am tomorrow on Coordinated Universal Time (UTC). The following features are expected: support for rejecting storage bucket migration; a hard fork for linking to opBNB; enhanced storage provider (SP) query methods; and disabling SP exit and storage bucket migration messages.
Uniswap front-end transaction fees exceed $1 million
Dune statistics show that Uniswap's front-end transaction fees have exceeded $1 million, reaching $1.1186 million at the time of publication. It is worth noting that the front-end transaction fee on October 24 was the highest daily level, reaching $111,155, and has been decreasing in the following days. In addition, the token that currently contributes the most to the fees is WETH, with fees reaching $299,900, accounting for nearly 30% of all fees.
